修正後10號公報實施對台灣電子產業獲利影響之研究

Abstract

本文係研究實施修正後10號公報對於我國電子產業獲利的影響。文中選取我國上市櫃公司採用修正後10號公報前後會計報表項目為研究樣本，並按篩選標準選取754家公司，共1508個樣本為本論文研究對象，運用敘述統計量及建構多元迴歸模型進行實證研究。文中選取修正後10號公報本身及修正後10號公報影響到的會計報表項目作為自變數，利用純益率、股東權益報酬率及總資產報酬率作為應變數，在選取規模及產業別作為控制變數，探討修正後10號公報的實施對於企業獲利能力的影響。 本研究目的為： 1. 探究修正後10號公報的內涵。 2. 分析修正前後10號公報的差異。 3. 藉由實證研究瞭解修正後10號公報對電子產業的影響。 4. 藉由實證研究瞭解修正後10號公報影響的變數哪些對電子產業影響較大。 實證發現，修正後10號公報本身及修正後10號公報所影響的變數，存貨成本、存貨減損和純益率、股東權益報酬率及總資產報酬率在實施修正後10號公報後影響係數變大，顯示這些變數影響了企業的獲利能力，而銷貨成本與純益率、股東權益報酬率及總資產報酬率雖然呈現負向關係，但影響力變小與本研究推論不符。而存貨週轉率和純益率、股東權益報酬率及總資產報酬率呈現正向關係，但影響力也變小。至於控制變數方面，規模對於股東權益報酬率及總資產報酬率影響力也減少，顯示大公司獲利能力並沒有較小公司佳，產業別對於純益率及總資產報酬率均呈現顯著關係，顯示修正後10號公報對於特定產業的影響較大。

The thesis mainly studies the impact on the performance of Taiwan electronic business after the revision SFAS 10 implemented. It takes items on the financial statements of Taiwan IPO enterprises before and after the revision SFAS 10 implemented as research samples. This investigation chooses 754 enterprises by standard protocol and takes 1508 statistics as the research object and uses descriptive statistics and builds multiple regression models to do empirical research. Items on the financial statements, which affected by the revision SFAS 10, are selected as independent variables. Net profit margin, ROE and ROA are selected as dependent variables, scale and industry sector as control variables to explore the impact on the performance of Taiwan electronic business.

The study finds the relationship between the revision SFAS 10 and items on the financial statements. Stock cost and stock loses are significantly and negatively related to net profit margin, ROE and ROA. This shows these variables affect the business profit ability. However, sales cost is a negatively related to net profit margin, ROE and ROA, but not significantly. Also, there is a direct but inconsiderable relationship between stock turnover rate and net profit margin, ROE and ROA. As for control variables, the scales are not directly and greatly related with ROE and ROA, this indicates that the profit ability of big enterprises is not better than that of small ones. Moreover, the relationship of industry sector between net profit margin, ROE and ROA is significant. Thus, the revised SFAS 10 affects substantially on certain industry.